Fly News Breaks for January 6, 2020
RRR
Jan 6, 2020 | 09:48 EDT
BofA analyst Shaun Kelley downgraded Red Rock Resorts to Neutral from Buy with a price target of $25, up from $23. He thinks the risk-reward is "increasingly balanced" as the loss of Red Rock's Graton management contract offsets core earnings growth. He also notes that the stock still trades at a premium to other regional gaming stocks, which he attributes to its high-margin and higher growth local business and owning all its real estate.
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